Squarepoint Ops LLC Increases Position in Silgan Holdings Inc. (NYSE:SLGN)

Squarepoint Ops LLC increased its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 37.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,109 shares of the industrial products company's stock after purchasing an additional 12,367 shares during the quarter. Squarepoint Ops LLC's holdings in Silgan were worth $1,909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in shares of Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company's stock valued at $25,000 after buying an additional 426 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company's stock worth $49,000 after purchasing an additional 1,107 shares during the period. GAMMA Investing LLC raised its position in shares of Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 613 shares during the period. Covestor Ltd boosted its holdings in Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company's stock worth $55,000 after buying an additional 462 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Silgan in the 2nd quarter worth $70,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLGN has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. StockNews.com cut shares of Silgan from a "buy" rating to a "hold" rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of Silgan from $51.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Finally, Citigroup boosted their price objective on Silgan from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Silgan has an average rating of "Moderate Buy" and an average target price of $57.00.

Insider Activity at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the business's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is currently owned by insiders.

Silgan Stock Up 1.5 %

Shares of SLGN stock traded up $0.76 during mid-day trading on Friday, hitting $51.52. The stock had a trading volume of 425,281 shares, compared to its average volume of 573,617. Silgan Holdings Inc. has a 12-month low of $38.11 and a 12-month high of $52.84. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. The firm's 50-day moving average is $50.54 and its two-hundred day moving average is $47.49. The firm has a market capitalization of $5.50 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.83 EPS. On average, analysts predict that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. Silgan's dividend payout ratio (DPR) is currently 26.67%.

Silgan Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.